How do people get into real estate?
They arrive from many places. People go into real estate right out of school, or they come from other professions, such as teaching or computer technology.
Work for a large public real estate company or a small entrepreneurial organization; for a company that develops a single product like office buildings or multiple products such as office, retail and industrial; for a group that operates in a single geographic market or all
over the world; or for a company that specializes in converting historic office buildings to new uses, such as apartments. (Some people start their own business straight out of school, but more often they first work for another company.) Real estate also off ers many part-time positions in such areas as sales, brokerage and leasing.
How do people learn about opportunities in real estate? Talk with brokers, developers, property owners and others who can provide valuable insights into the industry; how it works and where the job openings are. Attend meetings of professional organizations like the Urban Land Institute (www.uli.org). Take a real estate course at a local college. Read industry trade publications such as Commercial Property News (www.commercialpropertynews.com). Visit online real estate news sites like Globe Street (www.globest.com).
What does it take to succeed in real estate?
Real estate requires many of the same core skills as other professions. These include analytical proficiency, communication skills, interpersonal skills and leadership ability. A strong background in finance is also essential for many positions. But what differentiates the really successful people in real estate from those who are merely competent are the intangibles: drive, integrity, focus, adaptability, resourcefulness and, most importantly, enthusiasm— that is, a genuine passion for real estate.
How do people get started in real estate?
There are numerous entry-level jobs available. You could work as an analyst with a development company, providing support to other professionals by doing research and conducting various types of financial analysis. Or be a laborer on a construction site, which would give you a first-hand education in the construction process. Or start as an assistant loan officer with a bank or other financial institution, where you would get a perspective on how to analyze and evaluate loans.
Or work as an analyst for a home-building company, helping senior managers to decide on potential land acquisitions and estimate building costs. Or become an apprentice in a brokerage firm. To learn more about entry-level positions, check out the real estate sections of online job sites such as www.hotjobs.com, or specialist real estate sites such as www.selectleaders.com.
September 6, 2006